Entries in market development
(21)

As 2015 draws to a close, ISO New England has completed the implementation of two capital projects that improve scheduling of wholesale electricity sales between neighboring regions and enhance the commitment and dispatch of fast-start generators, thereby helping to reduce wholesale costs in both regions. The Coordinated Transaction Scheduling (CTS) Project went live December 15 (see the press release), while the Generation Control Application (GCA) Project, a prerequisite for CTS, went live November 10.

The New York Independent System Operator (NYISO) and ISO New England have implemented a new interregional market system that will streamline electric energy transactions and improve the flow of power between the two markets. Introduced on December 15, Coordinated Transaction Scheduling (CTS) makes more efficient use of the transmission lines by enabling market participants to access the lowest-cost source of power between the two regions.

Order No. 745 was vacated in a May 2014 decision by the US Court of Appeals for the District of Columbia Circuit in Electric Power Supply Association v. FERC. An appeal was filed, and on May 4, 2015, the US Supreme Court agreed to review the decision. The Supreme Court's decision is expected by end of June 2016.

Revised ORTPs went into effect May 13

On May 12, 2014, the Federal Energy Regulatory Commission (FERC) approved several revisions ISO New England proposed to offer review trigger prices (ORTPs) in the Forward Capacity Market (FCM). The new ORTPs are effective May 13, 2014, to ensure that market participants preparing qualification packages for the ninth Forward Capacity Auction (FCA #9) have certainty regarding the applicable ORTPs in advance of the June 17, 2014, qualification deadline.

ISO New England and the New England Power Pool have filed a joint proposal with the Federal Energy Regulatory Commission to establish a sloped demand curve for use in future Forward Capacity Market (FCM) auctions. Each year, ISO New England holds an auction to purchase the amount of capacity (both generation and demand-side resources) that will be needed to satisfy demand for electricity for a one-year commitment period three years into the future.